SERIOUS WARNING
- Most Forex traders lose all their money.
- Using the robot posted here in trading Forex does not guarantee success.
- Trading this robot could lead to serious financial loss.
- Trading this robot without understanding its underlying trading strategies guarantees traders will lose their money.
- This is not a set-and-forget ea; there is no such thing and anyone who tries to claim there is, is either stupid or lying. This ea requires frequent manual intervention.
- At best, a trading robot is only 90% as good as the manual strategy it trades. At best. At worst, it can be much less effective. If the strategy is rubbish, so is the robot.
- To trade this robot, you have to understand:
- How to use EA's.
The genesis of Oracle is to be found at http://www.stevehopwoodforex.com/phpBB3 ... ?f=5&t=320. You will see that xlitang did not take up my challenge to prove the system worked by trading it manually, and the thread initially died out in February.
Then in May, along came jaggerdam67 (Joel) at http://www.stevehopwoodforex.com/phpBB3 ... 944#p92944 claiming to be making lots of pips manually from the system. I got in touch with Joel and we have been developing Oracle on the quiet. It bears little resemblance to xlitang's thingy, so make sure you download everything you need from here.
Nice one Joel. Thanks.
Set up your charts
- copy the three Oracle indi's (Move, Strength, Direction) and GPTrend_V22 into your indicators folder.
- copy Oracle.tpl into your templates folder.
copy Oracle EA into your Experts folder. - close down then restart your platform.
Oracle has been successful on demo on the D1 time frame - it has failed on lower tf's. It is not a trading tart, so set it up on lots of charts. Everything happens at the open of a new D1 chart, so you are looking at the close of the previous candle for the indicators to line up.
- Buy trade:
- Oracle Move is an indi that produces the blue and red moving averages on the chart. Blue must have crossed above red within the previous LookBackCandlesForCross candles (defaults to 6).
- both Oracle Direction arrows must be blue.
- the Oracle Strength histo must be blue.
- Sell trade:
- Oracle Move blue must have crossed below red within the previous LookBackCandlesForCross candles (defaults to 6).
- both Oracle Direction arrows must be red.
- the Oracle Strength histo must be red.
- there are the usual TakeProfitPips and StopLossPips inputs for those of you who want to directly control this mode of exit.
- ATR stop loss and take profit. Oracle read the ATR and multiplies this figure by ExitAtrStopLossMultiplier to create a dynamic stop loss, and ExitAtrTakeProfitMultiplier to create a take profit.
- trades will be closed if Rsi crosses in the opposite direction to the trade, and GP_Trend is the opposite colour.
- CloseOnH4OppositeSignal: if 'true', the ea will close the trade if it detects a full opposite-direction set of trade signals.
- CloseOnRsiRecross: if true, the ea will close the trade if Rsi recrosses in the wrong direction for the trade.
- IndicatorsReversingToCloseTrade: set this to <4 if you do not want to wait for a full opposite direction trade signal. By default, the ea will close it when two of them are wrong. Set this to >4 to turn this feature off. The ea will display the number of indi's lining up against any open trade.
All this is far simpler than it seems. Take a few minutes to study your chart and see how it shows the details I have described above.
Serious reservation
The Oracle indi's do not come in .crapql source code - they only come as compiled .ex4 files. They are 'black boxes' whose inner workings are hidden from us. They will do the usual Crap Custom Abortion thingy of calling the regular indi's that ship with Empty4 and display the results using pretty colours etc - hence my original scepticism of the thread. Fact is, Joel has been successful and our Oracle EA has done ok for me on demo, and apparently well for Joel.
Inputs
Run this OOTB apart from Lot unless you understand the indicators involved. The inputs specific to Oracle are all above the General Inputs section.
Oracle has all my usual stuff. I include it so that inveterate tinkerers can do their thingy to their hearts' content. You will find descriptions of how they work in the Shell User Guide. By default, everything apart from the thingies specific to the trading system are turned off, so you can cheerfully ignore them.
In conclusion
This ea is not a trading trollope. Trade it on the D1. Load it onto multiple charts. Do not expect a lot of trades. It does produce losers. Some of the winners will blow your mind.
Have fun.
Matters of general interest
Go here to download and run the script that will fill your platform's missing chart history: http://www.stevehopwoodforex.com/phpBB3 ... f=15&t=254
Read this post:
http://www.stevehopwoodforex.com/phpBB3 ... p?f=6&t=78 Newbie traders, read this for inspiration and warning. Those of you who have suffered losses, read it for inspiration.
Masterly summary of hedging: http://www.forexfactory.com/showthread. ... ost4977179
EA coding
I receive may requests to code EA's. Traders, if I code your EA for free, then I will share it here. If you want me to code your EA without sharing, then my fee is $100 payable into my paypal account. I explain why at http://www.stevehopwoodforex.com/phpBB3 ... ?f=15&t=79, at the bottom of the post.
Useful utilities/EA's/scripts
- MaryJane has posted a fabulous utility to allow us to resize EA input windows: http://www.stevehopwoodforex.com/phpBB3 ... f=5&t=3427
- Multi purpose trade manager: http://www.stevehopwoodforex.com/phpBB3 ... ?f=21&t=64
- Account equity analyser: http://www.forexfactory.com/showthread. ... ost4709098, which includes a template for both USD and the Euro.
- Past-trades display indi by squalou; shows a graphical display of the success/failure of trades in your History tab. Breathtaking piece of work. http://www.forexfactory.com/showthread. ... ost3830610
- My shell EA – the code I use to produce EA's so quickly. http://www.stevehopwoodforex.com/phpBB3 ... ?f=15&t=79
